A blockchain may be used as a public ledger to store any type of information. Although, primarily used for financial transactions, a blockchain can store any type of information including assets (i.e., products, packages, services, status, etc.). A decentralized scheme transfers authority and trust to a decentralized network and enables its nodes to continuously and sequentially record their transactions on a public “block”, creating a unique “chain” referred to as a blockchain. Cryptography, via hash codes, is used to secure an authentication of a transaction source and removes a central intermediary.
The information economy has generated an abundance of new online products and services. To authenticate users, organizations link their clients to unique identifiers. Because most users already possess an email addresses, service providers have found email to be a convenient way of identifying their clients, adapting their processes and record keeping in general. However, email addresses have rapidly become a target for hackers, who leverage them with privacy invasions, fraud, and other abusive activities. For example, thousands of employees at a major organization used customer email addresses to open unauthorized accounts. Given widely reported data breaches, reports of online surveillance by governments, social media, and advertising companies, online users/consumers are also increasingly sensitive to information leakage.
One approach is to require additional information (evidence) to verify or authenticate a user. Consumers, however, want to maximize control of their authentication information and minimize the risk of information leakage that compromises privacy. Similarly, consumers are concerned to minimize technology lock-in and maximize authentication portability.